Vietnam shifts gears to e-bikes, ignites fierce race among mobility platforms, EV makers to win over riders
Platform operators such as Grab and Be are fast-tracking partnerships with electric vehicle makers, who are also raising fresh funds to ramp up expansion
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[HO CHI MINH CITY] Vietnam – one of the world’s largest two-wheeler markets, with some 77 million registered motorcycles – is readying itself for a big shift as its biggest cities move to phase out petrol-powered motorcycles.
Even before the switch takes effect, the prospect of the looming bans on internal combustion engine (ICE) motorcycles in Ho Chi Minh City and Hanoi is already sparking brutal competition among ride-hailing giants. The likes of Grab, Be and Xanh SM, for example, are all seeking ways to convert their rider-partners to make the pivot to electric vehicles (EVs).
Local EV makers, including VinFast, Selex Motors and Dat Bike, are also locked in a cut-throat race to capture the expected surge in demand, competing in product affordability, performance, infrastructure readiness and access to large funding.
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